Ensign Peak Advisors Inc Cuts Stock Position in Kite Realty Group Trust $KRG

Ensign Peak Advisors Inc cut its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.1% in the second quarter, HoldingsChannel.com reports. The fund owned 131,588 shares of the real estate investment trust’s stock after selling 2,795 shares during the period. Ensign Peak Advisors Inc’s holdings in Kite Realty Group Trust were worth $2,980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in Kite Realty Group Trust in the 1st quarter valued at about $1,174,000. Fifth Third Bancorp increased its stake in Kite Realty Group Trust by 46.2% during the 2nd quarter. Fifth Third Bancorp now owns 24,330 shares of the real estate investment trust’s stock worth $551,000 after buying an additional 7,686 shares in the last quarter. Nuveen LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter valued at approximately $70,071,000. Cetera Investment Advisers raised its holdings in shares of Kite Realty Group Trust by 129.2% during the first quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock valued at $994,000 after acquiring an additional 25,040 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Kite Realty Group Trust by 299.7% in the first quarter. Russell Investments Group Ltd. now owns 440,654 shares of the real estate investment trust’s stock valued at $9,857,000 after acquiring an additional 330,403 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KRG shares. Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Citigroup reaffirmed a “neutral” rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.88.

Insider Activity at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $23.09 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $5.00 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 6.16 and a beta of 1.13. The firm’s 50-day moving average is $22.31 and its two-hundred day moving average is $22.36. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $205.06 million during the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be given a $0.29 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 181.25%.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.